Let’s talk deposit!
Whether you’ve been saving for years, or have no money put aside for your deposit, Resolve can help you out. They get everyone is different, so they make sure you get access to a huge range of products. They have everything from no deposit home loans to parent assist loans (and word on the street is that some of them you won’t find anywhere else outside of WA and VIC). That’s very, very useful.
I haven’t really saved much. So… what are my options?
Resolve have some great low deposit home loans available that use your First Home Owners Grant or gifted funds. We think this is a pretty great option, especially because most lenders in WA require a minimum 5% deposit. And, we know you want to get into your new home sooner.
I don’t really understand loans.
That’s ok, Resolve can talk you through the products they offer. They have access to a range of loans that suit everyone, including some you won’t find anywhere else: Low Deposit Home Loans, Keystart Home Loans, My Home Plan, Guarantor Home Loans and Parent Assist.
My parents said they’d help me out. But… I heard it doesn’t have to be in the form of cash, is that right?
Well first off, lucky you. And secondly, you’re 100% right, there are other ways they can support you. For example, if your parents own a home, we can use that equity for your home loan, which basically means they don’t have to fork out a thing. And, it significantly reduces the deposit needed, and your mortgage insurance. It’s a win-win. (Just make sure you make your repayments.)
Ok, so they’re going to help, but I have to pay them back, like, is there a legal thing in place for that?
Sure is, it’s called Parent Assist. This means your parents come up with your deposit and you repay them with interest, just like any other official loan. But, you pay them back at half the rate of your home loan! It’s a neat way to save on your mortgage insurance and still get the First Home Owners Grant and stamp duty concessions. Makes it a lot easier to ask for the dollars!
I kinda need help getting my savings together.
Don’t sweat it. We’ve developed a simple program called My Home Plan. It’s basically built around your income and your spendings. So, you can get back in control of your financial future—and into your own home sooner.
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